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Bill Payable Book

Bill payable book is made for giving the acceptance to creditors that we will pay the amount of bill at the time of its maturity. In this book, we write date when bill is given, to whom is given, where is it payable, due date, amount and remarks.

Posting of bills payable book

a) We open bill payable account and total of all bills will be posted in the credit side of this account by writing by sundries as per bills payable book.

b) We also open each creditor account and in the debit side of creditor account, we posted to bill payable account.

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